In the next months, Meta CEO Mark Zuckerberg plans to introduce the non-fungible tokens (NFTs) capability on Instagram. They will add this function to its video and picture program on Instagram. This way, users are allowed to exhibit their NFTs on the app. On Tuesday, Zuckerberg revealed some news. He said they are working to bring NFTs to Instagram soon.
According to Zuckerberg, Instagram users will be able to mint their own NFTs on the site. Despite this, Zuckerberg declined to provide information on when and how the framework may be implemented. He noted that won’t be revealing what that’s going to be, though.
Facebook and Instagram Working on NFTs development
A mobile developer revealed some information regarding the development of NFTs on Meta. Since last July, Meta, previously known as Facebook, and its application Instagram built an NFT function for their respective apps.
However, last June, Instagram mobile developer Alessandro Paluzzi said that the company is working on NFT bidding possibilities for customers. This opportunity will provide a platform for users to sell their collectible items on the site. So far, Instagram did not announce anything about NFT. Neither did it show any possible payment features on its platform.
In light of NFTs utility, the online adult content subscription platform OnlyFans released a feature. Additionally, it allows users to show validated NFTs as profile images.
Moreover, on January 21, Twitter said it was implementing an official verification process for NFT avatars. This development would enable some users to use their own NFTs as their profile images – and it went live for some users shortly after.